Solar net earned $ 104 million in the first three quarters of the PV power plant sales-Bloomberg

Polaris solar PV net news: recently, Canadian solar announced its third quarter of 2014 financial data as at September 30.

Reported third quarter of 2014, solar made revenues of US $ 914 million (about 5.626 billion yuan), rose 46.59%, an increase of 86.18% to achieve a net profit of 104 million dollars (about 641 million yuan); in addition, firm component shipments for the quarter up to 770 MW, the current global reserve about 1400 MW of large PV projects.

Canadian solar, President and Chief Executive Officer Dr Qu Xiaohua said: “the third-quarter, the company exceeded the expectations of all financial and operational indicators, which benefits from total solutions business is growing fast, as well as component business remain strong. Meanwhile, companies in the third quarter, Canada 5 solar PV sales than previously expected 4 sales targets. ”

Canadian solar announced capacity expansion

According to money, solar completed its third quarter in Canada Ontario sale of five solar power station, a combined value of $ 306 million (about 1.655 billion yuan).

On Qu Xiaohua mentioned above “total solutions business is growing fast.” Reported in solar shipments in the third quarter, and includes systems and solutions business sales of 173 MW, compared with last quarter and the third quarter of last year was 70 MWe and 68 MW. Meanwhile, systems and solutions business’s percentage of operating income in the third quarter reached 53.8% (last quarter of 32.6%).

In addition, Canadian Solar’s gross margin for the third quarter reached 22.9% (last quarter of 19%), up from a previous forecast of 19% and 21%.

Perhaps based on financial and operating indicators exceed expectations, as well as global PV market demand continued to grow. Canadian solar PV to China Changshu Luoyang plans expansion of two factories. New capacity of 500 MW, is expected in 2015, the first and second quarter online. By then, the solar module capacity will amount to 3.5 gigawatts.

In addition, Canadian solar located in Funing County of Jiangsu province’s first high efficiency polycrystalline silicon solar cell production line (capacity of 80 MW) is progressing well. Company expects second quarter by 2015, Funing factory battery capacity will expand to 400 MW. By then, the solar battery capacity to 1.9 GW.

Solar is also in the process of upgrading its solar cell factory production line in Suzhou, polycrystalline silicon solar panel after the upgrade is complete, the average efficiency of more than 18%. Meanwhile, Canadian Solar plans to upgrade equipment factory in Luoyang of ingots, is expected in 2015 wafer capacity expansion from 260 MW to 400 MW.

Raised its annual revenue forecast

Canadian solar expected 2014 component for fourth quarter shipments are expected to be between 810 MW-860 MW, operating income between $ 925 million-US $ 975 million, gross margin is expected to be between 17%-19%. Canadian solar, the company’s fourth-quarter gross margin guidance is given, may be subject to United States trade friction, the United States dollar and Canada three factors affected project completed.

Solar component shipments expected 2014 fiscal year from 2.5 GW-2.7 gigawatts, up from 2.73 Jiva-2.78 GW, revenues expected from the previously given $ 2.7 billion-$ 2.9 billion, up from 2.93 billion US $ 2.98 billion dollars.

Qu Xiaohua said: “revenue, profit margins and shipments of three indicators, 2014 is the best for development since the establishment of the solar year. Our continued growth is expected in 2015 the global solar market momentum. ”

For example, he said, “recently, we engaged in investment management and business development equity fund management Ltd of Sichuan province have reached a cooperation agreement, jointly set up an investment fund, on the Chinese market for solar photovoltaic power project provides financial support for the development, construction and operation. ”

Original title: solar net earned $ 104 million in the first three quarters of the PV power plant sales-Bloomberg

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